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Search Results 0 to 49 of about 71 (some duplicates have been removed)
france should give itself more leeway to meet mission targets. the company's 3% of gdp with more pressing -- than cussing excess from public finances. the imf has warned against more tax hikes warning these could further restrict growth. he says it's built a bit of momentum, but still needs to do more. >> france has to reform. france cannot -- that can avoid reforms. it can be again reforms which might be different. but we need to reform. let me say that from that perspective, the recent decisions going the right direction and i think that the government has understood the need to help companies create jobs. so what is important is that this momentum is there going forward. i mean, the momentum, positive momentum regarding the negotiation between the trade unions and the corporate buddies to give more flexibility to the labor markets, to give the ability for corporates to adapt more quickly. it's very important that the government complies with reducing the budget deficit and reducing public spending. we have too high level of public spending. and if you reach the level of taxes is too hi
against the dollar, trading at a value of $1.3175. >> turning to france now where the economy is set to show minimal growth in first half of next year, according to the french national statistics institution, who predict a rise of 0.1%. >> france's economy also barely grew over the course of this year, but in what many analysts see as overly optimistic, paris has set a growth target of 0.8% for 2013 and says it is still confident it can cut its deficit to below the you-mandated level. a german power utility is cutting 1300 jobs as part of a 750 million euro cost-cutting program. >> it is germany's third biggest power company. most of the job losses will be among support and administrative staff. the company has struggled financially from having to shut down to below of its nuclear reactors over safety fears in the wake of the fukushima disaster. >> ratings agency standard and poor's has downgraded cypress again. its sovereign debt already has junk status. now it has gone down two more notches. >> cypress says it needs a decision on an international bailout within days to avoid a defa
days paid not including weekend, additional time off , holidays. at france it starts at 25 per good european court of justice added on another to give a workers the right to to a vacation to over or give back. >> for instance it used the for two weeks for your christmas holiday and use brain drain gold and the last eight-- you are laid up that means they automatically go into your sickly youth then you could have the vacation do over to make up for those days that you weren't that sec or hurt. john: if you say i have they cold? they have to give you that back? >> if it is dead doctor's note to to say she got the sniffles so she will need another seven days of paid vacation. john: italy first. if you start a business and keep it small, up that 10 workers you have some flexibility but number 11 1/2 to have the self assessment outlying every possible health and safety hazard? >> yes. we're not just talking about heavy machinery but how you deal with specific stress with your age, gender, a doctor, the overwhelming majority of italian workers work with 10 or fewer employees. john: numbe
situation. one part of europe is doing very well. germany, france, northern europe, generally speaking. italy, spain, portugal, greece and ireland, hungry are in terrible shape. serious terrible shape. and because some folks don't pay attention to numbers, here's a chance for a statistic to help. students of mine, professors who came to the united states to study the universities where i taught. now professors at the university of acton, major universities increased. today their salaries as we speak are 40 percent less than what they were in may of 2010. try to imagine yourself in a job that you've kept in which the money you get every week is 40% less. police, fire, school teachers, social workers, you name it. .. governments in france and germany have been very frightened since they too are facing an economic crisis and they too are trying to solve it by making demands of their people to pay for something we come in to. they have chosen to use a very dangerous strategy particularly warm germany and the strategy goes like this. we the government are your friends, you the german workin
're the only country that does it, let's be like france, greece, and spain and not have one and get to the cliff-- >> a quick reminder, by the way, adam of the 16 trillion dollars of debt that currently is on the table for the united states. 6 billion of that debt, neil, has been put on the books under president obama's watch. >> 6 trillion. >> 6 trillion. we're talking about adding on to that. where is he he coming up with the numbers? which economist is he citing and where are the polls-- >> warren buffett said earlier in the week it's not about economics it's about making people feel good. -- let me stop a second. did you say where he does he pull these numbers out of. >> seriously, seriously. >> neil: i wanted to make sure i heard you correctly. talk about a pain in the gas. the price is record high this time of year and we're getting new proposals to hike gasoline prices to pay down the debt. where will it go. the gang from forbes is on that. that's at the top of the hour. forget having the in-laws over for dinner, more families are shacking up together. young, old and everyone
the france where the thinker quarter gdp is showing growth of less than 1 is% for the whole 2012. stephane pedrazzi joins us now from paris. stepha stephane, not a great set of growth figures for france. >> no. that's because of the fourth quarter. now a contraction of 2% of gdp is being tracked. it believes the economy will improve marginally next year. its target, 1 mers increase for the first and second quarter of next year mainly because of flat consumer spending. you know consumer spending is the main growth driver in france, raising the prospect of the weaker expected growth next year again. the officials target for the government is at 0.8%. we might be below this target and if that's the situation, the government will need to find additional resources of budget cuts. this morning, the french president confirmed the deficit target of 3% for the next year. he also said that the unemployment rate should decline at the end of the year even if the next year will be a difficult one. in the meantime, french unions, and employers have decided to extend negotiations from competitive net in
quarter. the eu, banking -- things like nap but, again, still down. >> not great news for france if we start to look at some of the indexes. there's a lot of focus on this economy. >> exactly. and the weakest spots, given that it's the second largest economy. now, we did see that return to growth for germany, which is a positive and will be a good gain forward. but say order box, very weak. demand, very weak. business confidence very weak and this is going to be hitting activity indicators going forward. >> even though the manufacturing side of it disappointed, the services was stronger. while services is a big part of the economy, it's where we're trying to see the rebalancing in the german economy happen. from that point of view, probably a rather encouraging development. >> it is interesting. it's also very exportwise. what we saw on these numbers was german exports falling sharply again. and this is just signaling that global economic conditions, soft patch very weak, particularly for the region -- i'm sorry, within the eurozone itself. >> and it's consistent with the weakening glo
cementmaker dipped to restructure its european operations. they could put charges of over 500 million francs. carolin has more out for us out of europe. >> hey, ross. let's take a look at the market reaction. initially, the reaction on the markets is quite subdued. now accelerating its declines, off by 7.1%, the second worst decliner on the market. let's come back to holcim. it is responding to the sluggish construction environment in europe and that is why it's restructuring its european operations. it is taking a $440 charge on write-offs for property plan and equipment. on top of that, it sees an additional 1100 million swiss francs in costs for the fourth quarter. so the overall hit to the fourth quarter will be 500 million swiss francs. it does say that the rebound will save around $120 million swiss francs annually. but overall, analysts are surprised about the size of the additional write-offs that will be booked in the fourth quarter. but holcim is trying to reassure investors this morning, saying there is still potential for a dividend payout for 2012 but that decision will be taken
was ready to return to america. he had gone to france as an illustrator, but he came home determined to be an artist. through his friends, homer was probably also introduced to the work of barbizon painters and other contemporary french artists, such as manet, whose work, in all likelihood, homer would have sought out while in paris. after his return from france, homer's subjects and the style of his work make clear he absorbed something from french art. return of the gleaner is strongly reminiscent of millet's well-known paintings. the lighter palette and two-dimensional design of homer's work at this point suggest that he may have seen manet's paintings with their strong light and flat patterns. homer's oil paintings of domestic american scenes called forth his deeper creative energies, but magazine illusations of the same everyday activities provided his livelihood. the carefree quality of these scenes appealed to a country recovering from the civil war. americans turned to lighter concerns-- exalting the innocence of childhood, the therapy of the outdoors, the benefits of leisure
, holidays. at france it starts at 25 per good european court of justice added on another to give a workers the right to to a vacation to over or give back. >> for instance it used the for two weeks for your christmas holiday and use brain drain gold and the last eight-- you are laid up that means they automatically go into your sickly youth then you could have the vacation do over to make up for those days that you weren't that sec or hurt. john: if you say i have they cold? they have to give you that back? >> if it is dead doctor's note to to say she got the sniffles so she will need another seven days of paid vacation. john: italy first. if you start a business and keep it small, up that 10 workers you have some flexibility but number 11 1/2 to have the self assessment outlying every possible health and safety hazard? >> yes. we're not just talking about heavy machinery but how you deal with specific stress with your age, gender, a doctor, the overwhelming majority of italian workers work with 10 or fewer employees. john: number 16 employee you have to have you representatives that is en
firmer agt the dollar. this is bank of france governor says the city of london should no longer be the main trading hub. is he whis links in tling in th is it doable? >> i think if you look at the figures they speak for themselves. at the moment 40% is actually this london compared to maybe 3% in france, 2% in germany, and it's not just that london dominates, but that the long term trend is actually away from france and germany and towards london. so a tough challenge for the ecb. >> so even if eurozone banks -- i suppose can they lean on eurozone banks to move their trading floors to paris and frankfurt. i don't know. >> that's true. and the fact is with currency, it's not just about trading the euro, it's what you trade on the other side, as well. london is the center for fx liquidity. that's the way it is. so the direction of things is not favoring anybody moving their trading floors towards mainland europe. >> fair enough. so what happens to the euro? we're sort of near a range high here at the moment. and how much problems are there going to the at 1.3050? >> it's an intere
in swiss francs. but because we are, again, operating in so many countries, having local costs, local currency costs as well as local currency revenues, we don't have any dilution of our profitability because of the strength of the swiss franc. so, actually, the more the swiss franc appreciates, you know, it has absolutely no effect on our profitability. it has an effect on the translation standpoint that it's stronger on the basis. >> okay. some interesting points. i think what's interesting is when you come here, we got a meeting today, kelly, of the account and they're going to approve pakistan later. but working on the bits of the doha rounds. one of the things that's going to be interesting is particularly the supply chaines and global exports. that's one of the things they think they can get pretty good progress on. for example, good at a port. why does the kaber have to be held up for sort of a week or two weeks and not put straight into the country? a lot of international countries saying that's a bigger hit on earnings than 1% or 2% in duty. it's getting this in the increasin
concerned about france and spain than i am about italy. >> we'll talk about those. >> let me add asking. if italy is in this situation now, it relied on the easy way out. and politicians, including berlusconi, didn't have the foresight to see that. >> thank you so much for coming by. >>> staying at the eurozone, investors will be watching for anything coming from the italian crisis. the results of the spanish bond actions are due around 12:40 cst. hsbc was hit with a $1.9 billion fine. the ceo said we accept responsibility for our mistakes and are profoundly sorry for them. >> a full year loft loss of 4.7 billion euros, thinksen krup has more details. >> they are starting to look at the positive of what i would call a -- strategy, i.e., a clean sweep when it comes to the business strategy of thyssenkrupp as well as the instruct occur and the refocusing on being transparent and definitely being something shareholders should trust. so no dividends, jobs may go and the sale of celiamerica being looked at. the cfo says there's a handful of interested parties in that particular party of the
or medicine, physics, chemistry, and economics went to eight winners from the u.s., japan, france, and britain. >> the nobel prize for economics was jointly awarded to allan ross and lloyd shapley for their work on matching supply and demand -- alvin roth and lloyd shapley for their work on matching supply and demand. 89-year-old lloyd shapley, professor emeritus at the university of california, received a standing ovation. >> while the eu is celebrating winning the nobel peace prize, one of its largest member states has been plunged into crisis. >> first data appeared that italy was facing the prospect -- first, it appeared that italy was facing the prospect of uncertainty as mario monti appeared to be on the prospect of resigning. that pushed the stock market into a downward slide. >> in the last couple of hours, prime minister mario monti has come out and said he is not planning to step down in the near future after all, and that the nervous reaction in the markets should not be dramatized. >> investors are already nervous about what mario monti's early departure could spell for the eurozon
is trying to get charges in france drawn-out bear. there are charges that he was linked to a prostitution ring. he will try to get a judge dismissed those charges. it is an extraordinary case and we do not know what happened that morning in that hotel room in manhattan where she says she was assaulted by dominique strauss-kahn. he says it was a consensual encounter. we do not know what happened. we do know that to completely different lives were completely turned around. >> ok. thank you very much. you are watching "bbc world news america." could not in the dna of cancer patient helped generations of people? and you project of britain is counting on a to do just that -- a new project in britain is counting on it to do just that. share prices in italy have fallen sharply as investors reacted to in the news that mario monti intends to resign. berlusconi hopes to stage a comeback. >> stormy political weather ahead for italy. suddenly, mario monti is on the way out. there will be early elections and berlusconi is reaching for power again. on the markets, there is deep unease. they're like the
:20 central time, we'll speak to the world travel council to find out why france is still the world's top destination but more money is spent in the u.s. and central america is now a star performer. first, we want to get the latest news. looking for confidence out of germany's ifo survey. if we can put it up on the screen, that would be a help as i'm working to get it up at the moment. as soon as we get the numbers on that front, i will bring them to you. looks like we're still waiting on that. in the meantime, send in your thoughts, questions and comments about the program to worldwide@cnbc.com. and the biggest news of the morning, we have a deal. after 14 hours of talkes and months of negotiations, an agreement has been reached on a pan european banking supervisor. european finance ministers say they've drawn up plans to allow the ecb to directly supervisor the three largest banks in each country except for the uk and sweden which have both opted out. european leaders need to give their seal of approval and silvia wadhwa is in brussels with the latest. sylvia, it sounds like the meeting
, they were the uk and france in joint plays. >> i was hoping maybe the uk would get an olympics boost, but it appears to be still trailing italy by quite a ways. but there were no italian locations in the most instagram places until the world. six california locations made the list. and the top two places most snapped and shared on instagram may surprise you. they were the shopping mall in bangkok, thailand t b, and the sunni's airport. >> where is your top place that you would like to go, christian? >> i think i go with the americans here. i think it looks most likely that we're going to be in italy. >> i thought you meant he were going to the americas. but that's all right. >> i'm going with the americans will be. >> where in italy? >> sicily. sicily looks -- first of all, it's some place i've never been. in london any time of the year but certainly in summer. >> are you an instagram user? >> i am not. >> where do you want to go, kelly? >> in 2013? >> yes. >> i suppose i get around to see more of europe. i would love to go to russia and see moscow and st. petersburg. >> don't go in
times that of france or australia. it is 12 times higher than the average for other developed countries. why is that? if psychology is the main course, we should see that we have 12 times as many psychologically disturbed people as the average. we don't. in fact, america takes mental disorders seriously, treats them and doesn't stigmatize them. we do better in this area than most of our peers. is america's popular culture much worse than other rich countries? not really since it's largely the same popular culture worldwide. england and wales are exposed to cultural influences as the u.s. yet, their rate of gun homicide is some 3% of ours. the japanese are at the cutting edge of the world of video games, yet the u.n. puts their gun homicide rate at close to zero. why? well, they have one of the most restrictive series of gun laws in the world. when looking internationally, it is obvious that the one feature of america that would explain why we have so much more gun violence than the rest of the rest of the world is that we have incredibly permissive laws allowing the sale and possession
>>frank: francs. this is on the libor manipulation charges. ubs must pay swiss regulators $59 million in profits because the regulator can't fine ubs. the fine from the fsa is the biggest ever, 160 million pounds, $1.2 billion will go to the u.s. regulators. so the second biggest fine that was ever handed to a financial institution. of course, following that $1.9 billion fine that was given to hsbc. what we do know is that the company is admitting criminal wrongdoing in its japanese arm because, you know, around 30 traders worldwide had manipulated the yen libor between 2005 and 2010. the ceo speaking this morning says, you know, despite the troubles in the japanese arm, he does not believe that there's -- the bank is going to be shutting down the operations in that country entirely. saying that 30 to 40 people have already left the bank. they also gave us a bit more information on what kind of impact this will have on profits. they see a fourth quarter net loss of around 2.5 billion swig franks. a full-year profit of 2.5 to 3 billion. and the most important part, why shares are trading up. they
roughly speaking in the likes of italy and france and actually grew for germany. then in q4, it seems that there is a greater degree of destocking i think, materializing. i think that is going to lead to some weakness on the industrial production side and it does appear that the austerity is very much perceived by household and by service sector companies. and that explains this relatively soft data. it's a sign that really we are still in a period of multi-year major fiscal entrenchment and at the same time, we have a very cautious perspective towards taking on debt. both by the suppliers and the demanders of that debt. >> julian, very briefly, will we see more qe? will we see any more next year or not? >> well, it will depend, i think, on how things develop. on our baseline forecast, the answer to that would be no because we are looking for recovery coming through really reasonably significantly from the first quarter of next year with .4% quarter on quarter. >> julian, thanks for that. always good to see you. julian kelly joining us from barclays. which country is more corrupt and
with what's happening there. >> okay, rick, huge in france. we know french economy not that good. women want to make some money during this period. france is strong for you. >> we've grown, almost doubled the company in the last five years in france. we're the biggest company of our kind in france. we're the largest seller of cookbooks in france. we had some issues the first two quarters, during the election, as you know, most of the consumers sat on the sidelines. we're starting to see it come back to life again. so we feel very good about france. ditto germany. >> isn't that incredible. >> rick, 52-week high when compared to avon. incredible. thank you so much for joining us. >> good to be here. >> good to see you. >> all right. stay tuned. sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to ge
. appreciate it. france is pretty good, too. >> bye. >>> coming up, the early read on the trading session from the futures pits in chicago. >>> first, are you expecting a year-end bonus? what is that? you ever heard of -- no. we have not. a survey by challenger, gray, and christmas finds three out of four -- three out of four? will be handing them out. three out of four. thanks, nick. >> we're the bottom four. >> we're the four. handing them out, up 53%. we get these buttons. that's up 53% from a year ago. [ male announcer ] when gloria and her financial advisor made a retirement plan, they considered all her assets, even those held elsewhere, giving her the confidence to pursue all her goals. when you want a financial advisor who sees the whole picture, turn to us. wells fargo advisors. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. >>> dow futures up. s&p
the swiss franc. let's show where you we stand with oil prices right now. we've got nymex trading at 89. present at 110. both of them fairly steady. what about the outlook? joining us is peter hunt at rbc. peter, good morning to you. so does oil stay in this sort of recent ranges for the foreseeable future? >> actually we think it is. it sounds like sort of the risk of complacency. something we challenge ourselves on quite regularly. but given the points about china demand and global gdp, we're still very cautious in terms of demand, but the issue for the oil markets is supply and there are still big movements going on there. i think over the last three months, you've seen a really sharp fall in the output from iran. that's down below 3 million barrels a day for the first type since at least 2000. a lot of those volumes have been physically made by increases in iraq. but while they can make up the volume, they don't make up for the sense of instability. and i think as long as you have iran producing around a million down from a high of 4 billion only in 2008 and still needs to generate
people treated at the scene no one wanted to be france ported so they were all treated and released. it went away. >> no word on what caused the ness den. >>> the man who is charged with the missing morgan hill teenager is scheduled to return to court tomorrow to face additional kidnapping charges. they are connected to three 2009 incidents investigators say happen when they say mr. torres was 17 years old. one involved a stun gun. torres was arrested in may for the murder based on dna evidence. last night a fundraiser was held to support ongoing efforts to find her. the ice skate event took place at sharks ice. organizers are still holding out hope for lamar's safe return. she vanished back on march 16th while walking from home to her school bus stop. >>> the union city woman convicted of killing nursing student lee will be sentenced tomorrow. the sentence will require her to spend a minimum of 25 years in prison after an alameda county jury quirked her of first-degree murder. the nursing student went missing in may of last year and then her body was found in a remote canyon. prose
and france. >>> pay for presidents of private colleges rose from the year prior. the president of the new school is the highest paid in the country. that is right here in new york city at more than $3 million. >>> national hockey league is canceling its regular season through december 30th, i know, due to lack of collective bargaining agreement. 526 games, more than 40% of the season has been canceled. that unfortunately is that [buzzer] that is end of today's speed read. liz: it is disgusting. it is horrifying. we don't seem to be any closer to a resolution on the fiscal cliff even though many are warning that the economy could face dire consequences if there is no agreement but one strategist says, why are you worrying about december 31st? that deadline isn't even the real fiscal cliff. david: that strategist is none other than peter schiff, ceo of europacific precious metals. friend of the show. peter, although i wish it was under better circumstances. you say the real cliff coming is bigger han the housing mess, bigger than the housing crisis we went through. it's the bond mess. spec
-speed rail possibility similar to france and china and our chairman alluded to that. the recent da 0's larry assessments shows that california high-speed rail has secured $11.5 billion from federal lands state and still needs a shortfall of $57 billion to move forward. to put this in perspective, in the 1950s congress had action to invest in infrastructure and create an interstate system. the initial system took 35 years to build and after several additions highway system is a total length of 47,182 miles. the cost of construction has been estimated at $425 billion in today's dollars. so certainly we should move forward at this time. in urban mobility report by texas transportation institute found the cause of slow speed, what we currently have, on delays, and misconception continues to cost the united states over $100 billion annually. now is the time to make that investment for alternatives to congested highways and simultaneously create jobs. inner city passenger rail service call one of those alternatives, for delays on crawling speeds that face the nation's inner state today. northeast
. greece unveiling that $10 billion eurobond buyback. a 52-week high in france and germany. our road map this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on
it on the revenue side. otherwise we're going to be looking at tax rates that would make france's new socialist government blush. you can't get there from here. >> i'll tell you something, jeb, i'm a stock guy. just like you, you don't want to talk about taxes. let's forget about this whole tax side. i want three ways to cut spending by $500 billion right now. how about we take social security up to 68. how about we slash medicare benefits? and why don't we cut the -- the defense budget? why do we need people in europe? why do we need them in japan? what are we doing in decree california? i want some answers to this. >> well, go to the web and look for the republican budget. that was written by the chairman of our budget committee paul ryan. you will see these savings -- >> 30-year, 40-year plan. i want to know what we can do -- >> well -- number one, defense has already been cut. we can debate how much it should be cut further but it has already been cut. i mean that's just a fact. >> but we added -- >> -- defense on the republican side. you have that global war turf. -- good idea. >> say agai
is happening in europe, in france, in italy. in all of the countries suffering the most right now in terms of growth they have just jacked up their value-added tax to 25%. >> okay. so here's principle i think we need to draw in the sand. we should not have an ad-on, value-added tax. we should have a replacement value-added tax. david: don't put it on top of what we have? >> they have got value-added taxes but have every other imaginable tax and the national sport in italy is not paying taxes right? david: let me just, the president has weighed in on what he wants to do in order to change the tax code. he did it about a year ago. let's play that sound and get your reaction to it. >> i've said i will work with republicans on a plan for economic growth, job creation, and reducing our deficits, and have some compromise between democrats and republicans. i understand, you know, people have a lot of different views. i'm willing to compromise a little bit. david: that is not what i was referring to. what he said a year ago is this. give us 1.72 trillion in additional revenues which could be accom
. hong kong 52-week high. german 52-week high. france 52-week high. bombay, india, 552-week high. not a lot of rosy news out there, i know it sounds word to see all these stock markets with 52-week highs. there's not a lot of good news, and yet, still, we get record yields. we had a french bond auction, i don't normally talk about the french bond auctions, but i have to note, 1% on a six-year? record low yields, 1.27 low on a 7 year. the 15-year they had was record lows. we have this poor outlook, we still got the bond market flying, prices are way up here, the ecb's got everybody's back. a remarkable move in europe, a lot of people have been wrong and betting against him and been wrong. and a key point of course is central bank activism all over the world is helping prop up bonds and stocks, bank of japan, bank of england, federal reserve, the ecb, everybody out there has basically got bond investors back at this point. important thing moving on about the fiscal cliff. the biggest story passed around here this morning was the politico article where they finally put a name on mak
Search Results 0 to 49 of about 71 (some duplicates have been removed)